XRP has caught market attention again after reaching a four-month high near $3 in early July. This event has sparked hopes for a possible breakout to new highs.
XRP Recovery and Growth Predictions
XRP increased nearly 25% over the past week, trading around $2.8 at the time of writing. An analyst predicts that a close above a key resistance level could lead to XRP rising to $17.
Trading Strategies and Metrics
Analyst Steph Is Crypto noted a double bottom on XRP's three-day chart, confirming a trend reversal. He anticipates that reaching the $2.40 level could lead to a rise towards $4.00-$4.50. The trading volume has also surged, further supporting the positive sentiment among traders.
Critical Support and Resistance Levels
XRP's current daily chart shows that the price is above all major moving averages. The $3 level has become the nearest resistance, and successfully clearing this level may lead to significant historical gains. The key support level is at $2.6, below which a pullback is possible.
XRP is showing strong recovery signs, and experts express optimism for further growth. Attention should be paid to critical levels in the coming days.
